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Trade & Investment Number I | September 2016 Number VI | May 2017 More articles available at: www.kemlu.go.id/chicago 0 U.S. Vice President Mike Pence Visits EDITOR’S NOTE Dear Readers, Indonesia The charm of Bali is never ending. Trip Advisor has chosen Bali as the best tourism destination in the world in 2017. Thanks to its traditional values which combine with modern life that has become a great attraction for tourist from all over the globe. The U.S.A. is one of the top five foreign investments by country in the first quarter of 2017, ranked fourth with US$587.4 million investment between January and March. Indonesia's agriculture products such as mangosteen, bananas, star fruit, snake-fruit, rambutan, round coconut, cabbage, cauliflower, and flowers have been exported to 29 countries. Nevertheless, Indonesia is still seeking the opportunities to market its products to U.S.A. through a partnership. Photo: US Vice President Mike Pence listens to Indonesian President Joko Widodo at Merdeka U.S. Vice President Mike Pence Visits Palace in Jakarta on April 20 (http://www.cnn.com/2017/04/22/opinions/us-indonesia-pence-ties/) Indonesia 1 Sri Mulyani: Asia’s Best Finance Minister 2 U.S. Vice President, Mike Pence visited The visit has resulted in signing 11 Indonesia on April 19 – 21 as part of his 10- commercial and investment agreements Indonesia Foreign Minister visit the US to Strengthen Strategic Partnership 2 day visit to Asia. between U.S. and Indonesian companies Trip Advisor: Bali, Indonesia – that amounted to USD 10 billion over time. His visits consist of meetings such as One of the top 25 Destinations in the World 3 meeting with the President of Indonesia, BKPM: The US Makes the List of Top-5 The deals include Lockheed Martin Joko Widodo and Vice President Jusuf Kalla, Foreign Investment by Country 4 providing an advanced weapons targeting as well as celebrating the 50th anniversary Indonesia – U.S. Trade Overview 4 system for Indonesia's F-16 fighter jets, of the Association of Southeast Asian Indonesian Tropical Fruits to ExxonMobil selling 1 million tons of liquid Nation (ASEAN) and the 40th anniversary of World Markets 5 natural gas to state-owned oil and gas US ties with the group. Indonesia's Horticultural Products – company Pertamina for 20 years starting in a Great Demand in Many Countries 6 During his visit to Jakarta, the country's 2025, Honeywell supplying turboprop Domestic Production, Export, and capital, Pence declared "As the largest engines to Indonesian aerospace company Consumption of Indonesian Coffee 7 majority Muslim country, Indonesia's Dirgantara, and a USD 2 billion electricity Indonesia Organic Products 10 tradition of moderate Islam, frankly, is an metering system organized by a inspiration to the world," Pence declared. consortium of companies. For more detail information please contact: Economics Affairs - Consulate General He added that the United States commends of the Republic of Indonesia Indonesia and its people "for the great 211 W. Wacker Drive #8 inspiration that Indonesia provides to the Chicago, Illinois 60606 Phone: 312.920.1880 world." Fax: 312.920.1881 Email: [email protected] Website: www.kemlu.go.id/Chicago Number VI / May 2017 | Trade & Investment Bulletin 1 Sri Mulyani: Asia’s Best Finance Indonesia Foreign Minister Minister Visits the United States to Strengthen Strategic Partnership Photo: Retno Marsudi, Indonesia Foreign Minister meets with US Vice President, Mike Pence in Photo: Sri Mulyani, Indonesia Finance Minister (http://thejak.co) Washington, D.C. (www.kemlu.go.id) According to Finance Asia’s, Sri Mulyani he left to head the National Development The Indonesia Foreign Minister visited Indrawati is a worthy winner of 2017 Planning Agency (Bappenas). Washington, D.C. on 4-5 May 2017. The Finance Asia’s Finance Minister of the purpose of her visit is to follow up on US Year award. Sri Mulyani Indrawati was Bambang jump-started the national tax Vice President Visit to Jakarta last month appointed as Indonesia’s Finance Minister amnesty program, but Finance Asia said as well as to strengthen Indonesia – US last July, returning to a job she held that Sri's "fearsome reputation" was Strategic Partnership through mutually between 2005 and 2010. "undoubtedly crucial" to its continued beneficial cooperation for the people of success. Indonesia's tax amnesty has both countries. Sri Mulyani emphasized improving the been lauded as one of the most efficiency of tax collection, a crucial step successful programs of its kind, with The Minister visits consist of meetings for Indonesian Government in order to participants declaring Rp 4,590 trillion with Secretary of State, Rex Tillerson, Speaker of the House, Paul Ryan, and the get its wealthiest citizens to declare their ($344 billion) worth of assets previously Assistant to the President for Homeland assets. hidden from government oversight. Security and Counterterrorism, Thomas P. Bossert. The Hong Kong-based financial journal, in The early take-up of the tax amnesty was its article explained why Sri Mulyani was far lower than the administration had The issues that were raised during the their top pick. They have noted that she sought after. meetings include mutually beneficial has been particularly successful in economic cooperation, common efforts in countering terrorism and radicalism improving the Indonesian government’s Minister Indrawati has also pushed for through soft power, cooperation in revenue streams, which had failed to hit cuts in spending, slashing government maintaining stability and peace in the the mark for the last seven years. expenditure by 3% last year. This two- region as well as resolving the Palestine- pronged approach is economics 101 in Israel Conflict. This success also came along with the balancing the budget. However, it is a implementation of tax amnesty program rarity in a region where tax collection that had been launched before Minister often disappoints, and governments Indrawati started the job where in July often overspend. last year, Sri Mulyani accepted the position to head the Finance Ministry (continue page 3) under President Joko "Jokowi" Widodo, succeeding Bambang Brodjonegoro after 2 Trade & Investment Bulletin| Number VI / May 2017 Number I | September 2016 Indonesia achieved a dramatic narrowing consumption improving and (Source: Finance Asia) of its current account deficit in the last infrastructure investment is on the rise. quarter of 2016 with household Trip Advisor: Bali, Indonesia - One of the top 25 Destinations in the World According to Trip Advisor – 2017 Also known as the Land of the Gods, Bali disco music. For a quieter evening enjoy Travelers’ Choice, Bali in Indonesia appeals through its sheer natural beauty the beach at Jimbaran, a popular spot to ranked the first spot among other 24 of looming volcanoes and lush terraced eat fresh barbecued seafood. Sanur cities in the world, including locations rice fields that exude peace and serenity. Beach also dotted with hotels and throughout Asia, Northern Africa, The UK, Bali enchants with its dramatic dances restaurants. You can also visit Nusa Dua, USA, Latin America, and Australia. and colorful ceremonies, its arts, and where more private beaches are located crafts, to its luxurious beach resorts and front at the luxurious hotels. Before Hollywood caught on (aka Eat Pray exciting nightlife. And everywhere you Love) to the charm of Bali, travelers have will find intricately carved temples. Surfers love the waves at Nusa been flocking from near and far to Lembongan near Nusa Penida. These experience the fantastic organic foods, Bali’s white beaches are one of the islands are a 45 minutes boat trip spiritual experience and colorful sunsets favorite places to go for family holidays. from Nusa Dua or from Sanur. At Nusa on offer. But perhaps no place is as There are a variety of water sports Penida’s southwestern coast are the serene and surreal as Ubud, lying in the available, such as banana boats, Manta Point and the Malibu point where center of Bali with its’ pristine rice fields, parasailing or jet skiing, swimming or divers can swim with Trevally, big rays, rolling hills, and friendly locals. It is the plain sunbathing. Most well known and even sharks. The best dive spots are best destination to surf, bike and for a among Bali’s beaches is Kuta. Along with at Menjangan with its reef flat, anchor yoga retreat. this stretch of Kuta are an array of hotels, wreck, eel garden and caves to explore. restaurants, shops and cafes. In the evenings the area throbs to the beat of (Source: www.indonesia.travel) Number VI / May 2017 | Trade & Investment Bulletin 3 BKPM: The US Makes the List of Top Five Foreign Investment by Country The Investment Coordinating Board puts China in the third place, behind investment will continue to increase,” he (BKPM) reports that the United States has Singapore (US$2.1 billion) and Japan said. made it into top five foreign investments (US$1.4 billion). Data from the BKPM show that Indonesia by country in the first quarter of 2017. The former trade minister said that experienced Rp165.8 trillion investments US ranked fourth with US$587.4 million Chinese investment in Indonesia continues in the first quarter of 2017 or 24.4 percent investment between January and March. to grow above average in recent years of the full-year target of Rp678.8 trillion. compared to other countries. “US investment is substantial. I hope the The figure was a 13.2 increase compared US can continue to at least be in the top “China is already the world’s second- to the same period last year at 146.5 7,” the BKPM chairman Thomas Lembong largest economy and Asia’s number one. trillion and created 194,000 new jobs.
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